Shares of Wesdome Gold Mines Ltd. (TSE:WDO – Get Rating) reached a new 52-week low on Wednesday after National Bankshares lowered their price target on the stock from C$11.25 to C$9.50. National Bankshares currently has an outperform rating on the stock. Wesdome Gold Mines traded as low as C$6.08 and last traded at C$6.20, with a volume of 327438 shares traded. The stock had previously closed at C$6.41.
Several other equities analysts have also commented on WDO. TD Securities dropped their price target on shares of Wesdome Gold Mines from C$12.50 to C$11.50 and set a “buy” rating on the stock in a research note on Thursday, November 10th. Echelon Wealth Partners downgraded Wesdome Gold Mines from a “buy” rating to a “hold” rating in a report on Thursday, November 10th. BMO Capital Markets cut their price objective on Wesdome Gold Mines from C$15.00 to C$14.00 in a research report on Wednesday, January 18th. Royal Bank of Canada cut their price objective on Wesdome Gold Mines from C$11.00 to C$9.00 in a research report on Monday. Finally, Eight Capital dropped their price target on Wesdome Gold Mines from C$17.50 to C$15.00 in a research report on Wednesday, October 26th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Wesdome Gold Mines currently has a consensus rating of “Moderate Buy” and an average price target of C$12.19.
In related news, Director Charles Main sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 7th. The stock was sold at an average price of C$8.60, for a total transaction of C$86,000.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at approximately C$43,000.
Wesdome Gold Mines Stock Down 3.3 %
Wesdome Gold Mines (TSE:WDO – Get Rating) last posted its quarterly earnings results on Wednesday, November 9th. The company reported C($0.03) earnings per share for the quarter, missing the consensus estimate of C$0.07 by C($0.10). The company had revenue of C$61.82 million during the quarter, compared to analysts’ expectations of C$62.00 million. As a group, equities analysts anticipate that Wesdome Gold Mines Ltd. will post 0.57 earnings per share for the current fiscal year.
About Wesdome Gold Mines
Wesdome Gold Mines Ltd. engages in the exploration, extraction, processing, and reclamation of gold in Canada. It principally produces gold in the form of doré bars, as well as silver as a by-product. The company's properties include the Eagle River Complex that consists of the Eagle River Mine, the Mishi Mine, and the Eagle River Mill located in Wawa, Ontario; and the Kiena Mine Complex, which includes the Kiena Mine concession and Kiena Mill situated in Val-d'Or, Québec.
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